Experience
Stradley Ronon Advises Lenis Group in Sale of Majority Stake to Great Point Partners
Stradley Ronon represented Lenis Group, a Slovenian-based full-service regional commercialization and distribution partner for niche and specialty prescription medicines in Central and Eastern Europe, in the sale of a majority ownership stake to Great Point Partners, a U.S.-based private investment firm focused on the healthcare industry. The transaction was announced on December 10; the value was undisclosed.
The acquisition will support Lenis’ regional expansion and accelerate its vision of broadening access to high-quality specialty medicines across Central and Eastern Europe.
Lisa R. Jacobs, Dean V. Krishna, David J. Winkowski and Kate PfingstenStradley Ronon Advises Covetrus in Connection with Definitive Agreement for Chewy’s Acquisition of SmartEquine Business
Stradley Ronon represented Covetrus, a Portland, Maine-based global animal-health technology and services company, with respect to its agreement for Chewy Inc. to acquire its subsidiary SmartPak Equine LLC (SmartEquine). The transaction, announced October 30, is expected to close by year-end subject to customary closing conditions.
SmartEquine is a leading U.S. direct-to-consumer provider of equine nutraceutical supplements. The deal will allow for Covetrus to focus on its core business of delivering technology-enabled solutions that help streamline and strengthen veterinary practices.
Lori S. Smith, Joshua G. Galante, Jeremy M. Miller, Katrina L. Berishaj, Peter Bogdasarian, David P. Fitzgibbon, Dean V. Krishna, Avery Marz, Richard E. Peterson, Kate Pfingsten, Melanie L. Ronen and Megan E. StammStradley Ronon Advises Horizon BCBSNJ in Joint Venture with Deerfield Management
Stradley Ronon represented Horizon Blue Cross Blue Shield of New Jersey, the state’s oldest and largest health insurer, in a joint venture with Deerfield Management Co., an investment firm dedicated to advancing healthcare with more than $14.6 billion in assets under management.
The partnership will allow independent physicians to upgrade their practices and provide value-based payment arrangements while continuing to deliver high-quality patient care.
Lori S. Smith, Joshua G. Galante and Jeremy M. MillerStradley Ronon Attorneys Victorious in Historic Appellate Decision Granting the Garden State’s Largest and Oldest Health Insurer, Horizon, to Reorganize Corporate Structure
New Jersey’s appellate court issued an opinion today, May 31, 2023, in a matter concerning a challenge to the reorganization of Horizon Blue Cross Blue Shield of New Jersey, deciding whether the almost a century-old health insurance carrier could reorganize its corporate structure to a mutual insurance holding company. The court unanimously upheld Stradley Ronon’s arguments on behalf of Horizon to reorganize as a mutual holding company saying, “As Horizon correctly noted at oral argument, on the critical issue of membership in the new MHC, the statute controls. For these reasons, based on the facts presented, we are unconvinced the revelation of this information at the public hearings would have led to a different result.”
Andrew I. Hamelsky, partner-in-charge of the firm’s Newark office and member of the firm’s healthcare litigation team, defended and argued on behalf of Horizon Healthcare Services, Inc. on May 1, 2023. The Stradley Ronon team also included Spencer R. Short and Deenah Sirota.
Stradley Ronon’s arguments focused on how the corporate reorganization will benefit the State, including creating a more modern structure that will allow Horizon to provide better services to their members by partnering with innovative healthcare companies.
Stradley Ronon worked closely with Horizon representatives, state agencies and partners on this landmark application.
Andrew I. Hamelsky, Spencer R. Short and Deenah SirotaIHG Expands Third-Party Administrator Business
Stradley Ronon represented Independence Health Group (IHG), parent company of Independence Blue Cross, in an asset purchase that included customer contracts from Minnesota-based Comprehensive Care Services Inc., a third-party administrator that provides services to employers, union groups and tribal businesses and communities that self-fund their health plans. The purchase, made by two IHG subsidiaries, continues the expansion of Independence Health Group’s third-party administrator business by acquiring third-party administrator and Tribal business from CCS totaling approximately 30,000 members in Minnesota, Nebraska, North Dakota, South Dakota, Washington and Wisconsin.
Jason R. JonesAetna and Coventry Merge to Serve 22 Million Members
Stradley Ronon represented Aetna Health Inc. in connection with its application for regulatory approval regarding its acquisition of Coventry Healthcare of Delaware Inc. In addition to the various regulatory filings, the matter involved an evidentiary hearing before the Delaware Department of Insurance. The merger relates to an ongoing effort to consolidate entities within an insurance holding-company system which will increase Aetna’s presence in the fast-growing government sector.
Daniel C. Knox
